Saab's U.S. Unit Gets Nod For Ch. 11 Liquidation Plan

By Matt Chiappardi

Law360, Wilmington (July 15, 2013, 7:58 PM ET) -- After spending about a year and a half in a sometimes contentious bankruptcy process, the U.S. arm of Saab Automobile AB on Monday won a Delaware bankruptcy's judge's approval for its Chapter 11 liquidation plan.

The estate of Saab Cars North America Inc. is expected to have a liquidating trust of about $20 million to use for disbursements that will see administrative, priority and secured claims paid in full, attorneys for the company said in court.